Lilia is 61 years old and known for being a hardworking woman who has been sewing for other people for the past five years.
Her greatest desire is to have her own business and be able to convert it into a source of employment for women heads of households in her area. Her work is her greatest passion and she always tries to give her best in order to keep her customers loyal. She is asking for this loan so she can buy fabric and thread to continue developing her business and improve her family’s financial position.
Lilia de 61 años de edad, se ha caracterizado por ser una mujer luchadora y esforzada. Se dedica a la confección a terceros desde hace cinco años.
Su mayor deseo tener su propio negocio y poder convertirse en una fuente de generación de empleo para las madres cabeza de familia de su localidad. Su gran pasión es su trabajo por lo cual trata siempre de dar lo mejor para fidelizar sus clientes. Se encuentra solicitando un crédito que invertirá en la compra de telas e hilos para continuar con el desarrollo de la actividad y mejorar la condición económica de su familia.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.